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This will help you to guard the property youre renting out. For extra peace of mind, consider requesting a security deposit as well.

As you can see there are a ton of ways that you can earn passive income. Hopefully, this list has helped you narrow down which source of income is best for you.

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So if youre tired of this traditional means of making money, implement some of the passive income strategies above so you can start working and making more money while you sleep now.

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Years ago, I remember deciding, I did not want my wife to feel as though she"had to" go to work when she didnt want to.

Then, thinking it was my only option, I tried to work out how I'd cut down our household expenses if we had a baby. After all, I wanted to begin saving for her or his college.

Don't forget saving for retirement! My wife and I wanted to ensure we could tell each of the other military families that we had a solid TSP and Roth IRA to our future old-selves. We didn't want to seem financially uneducated.

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However, something did not feel appropriate. My thought process seemed counterintuitive and it was forcing some tough conversations between my wife and I.

How were we supposed to keep this up with each new baby and/or expense we had We had been hoping to have three children someday. Because of this, our many discussions about finances started making the future look more and more stressful. Anxiety began setting in.

I watched the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and I had a 13-hour drive from Pensacola, FL to New River, NC after graduating Naval Flight School. During the next several hours in my Automobile University, my entire world was turned upside down.

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Gone would be the days where I'd save money for the sake of compound interest and wait until I turned 59.5 or 65 to spend any of it.

I wanted my life to be better NOW! Or at least within the next couple of decades. I also wanted my life to continue getting better each month and each year.

Prior to making any assumptions, the book was not a get rich quick scheme. In reality, it was a novel about patience more than anything. Patience with a strategy and a mindset focused on cash flow and assets rather over here than loans on obligations.

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Rich Dad Poor Dad tells a story about a man with just two fathers: his own and his best friends. His father has a 6-figure paycheck, a college degree, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. Another daddy didnt have a college degree, lived in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the father with all the 6-figure paycheck was that the"poor dad" in the publication. .

The wealthy dad lived a relatively stress-free lifetime in which he created methods to make use of himwhile the poor daddy constantly found himself image source pouring over his receipts and household spending spreadsheets.

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The rich dad helped me understand, all I needed to do would be get more paychecks. Paychecks I didn't work for on an everyday basis.

The majority of us develop focusing on how much we earn per hour. Constantly trading our valuable time for money and striving valiantly to increase our hourly rate.

In the army, it means doing everything we can to reach the next rank to see this website get a cover bulge or waiting one more year to get our bi-monthly paycheck to increase with a sad 2.5%.

We keep trading our time for money even though time is the only thing we can't earn more of... we can always earn more money.

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Here is the question I felt the book asking mewhat should you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.